Legg Mason sides with Yahoo management
07/18, 12:25pm
Legg Mason backs Yahoo
One of Yahoo's largest shareholders has declared its support for existing management, according to an announcement. Legg Mason Capital Management, which owns 60.7 million shares (4.4 percent) of Yahoo stock, has declared its intentions to vote in favor of Yahoo's current bosses at next month's critical shareholder meeting. "We believe the current Board acted with care and diligence when evaluating Microsoft's [acquisition] offers," reads a statement from Legg Mason chairman Bill Miller.